Quarterly report pursuant to Section 13 or 15(d)

Available-for-sale debt securities

v3.10.0.1
Available-for-sale debt securities
6 Months Ended
Jun. 30, 2018
Available-for-sale debt securities  
Available-for-sale debt securities

 

Note 7 — Available-for-sale debt securities

 

As of June 30, 2018, the Company has the following investments in available-for-sale debt securities (in thousands):

 

 

 

Maturity

 

Amortized
cost

 

Gross
unrealized
gains

 

Gross
unrealized
losses

 

Aggregate
estimated fair
value

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

3 months to 1 year

 

$

77,820

 

$

 

$

(132

)

$

77,688

 

Government bonds

 

3 months to 1 year

 

6,030

 

 

 

(2

)

6,028

 

Commercial paper

 

3 months to 1 year

 

3,000

 

 

 

 

3,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

86,850

 

$

 

$

(134

)

$

86,716

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the three and six months ended June 30, 2018, realized losses recognized on the maturity of available-for-sale debt securities of $1,310,000 and $2,473,000, respectively, primarily arising due to foreign exchange movements, were reclassified out of accumulated other comprehensive loss.

 

As of June 30, 2018 and December 31, 2017, the aggregate fair value of securities held by the Company in an unrealized loss position was $81,714,000 and $125,828,000, respectively, which consisted of 33 and 54 securities, respectively.  One security, with a fair value of $1,400,000 with an unrealized loss of $2,000 has been in an unrealized loss position for more than one year. As of June 30, 2018, the securities in an unrealized loss position are not considered to be other than temporarily impaired because the impairments are not severe, have been for a short duration and are due to normal market fluctuations. Furthermore, the Company does not intend to sell the debt securities in an unrealized loss position and it is unlikely that the Company will be required to sell these securities before the recovery of the amortized cost.